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Phoenix Mills, a retail-led assets company, announced that Island Star Mall Developers Private (ISMDPL) is a wholly owned subsidiary of the company wherein the company is directly holding 91.28% shareholding and remaining 8.72% equity shareholding is held by Pinnacle Real Estate Development Private (PREDPL), another wholly owned subsidiary of the company.
In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has acquired 8.72% equity stake in ISMDPL from PREDPL on December 28, 2016.|
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